Interested to Buy Any Domain ? << Click Here >> for more details...
What is accrual concept?
- 5 Answers
- 12260 Views
- FIC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
As per Accrual Concept of Accounting Expenses & Revenues are
accounted in the accounting period to which it relates
(accounted in the year of accrual)and not when the same is
paid or received.
As against Accrual concept, expenses and incomes are
accounted when they are settled by making payment between
the parties to the transaction.
| Is This Answer Correct ? | 23 Yes | 1 No |
Answer / pragadisan
Business transactions are recorded when they occur and not when the related payments are received or made. This concept is called accrual basis of accounting and it is fundamental to the usefulness of financial accounting information.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / vinay kumar. pagidikondala
According to Accrual concept is air transactions even though
not yet settled in cash are taken in to accounts.
| Is This Answer Correct ? | 8 Yes | 15 No |
Answer / vaseem ahmed
Accrual Concept is refers to Double Entry system.
Double Entry system of book keeping is known as Accrual
Concept of Accounting.
| Is This Answer Correct ? | 6 Yes | 16 No |
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
what is Assets & Liabilities ?
4 Answers College School Exams Tests, EDS, Focus,
how can i calculate annual turnover for a construction company
6 Answers Coss Construction Company, Sun Construction,
What are time sheets? How are they maintained?
Tell me what is the general classification of accounts that usually ledger account involve?
What is a business transaction in accounting?
what is difference between job costing and process costing?
what is the difference between derivatives and swaps
9 Answers Capital IQ, FactSet Systems,
What is project implementation?
Our company given party to employees. this expenditure which account head booked ? please tell me
what is insurance? And Type of insurance?
How familiar are you with crm?
Audit 
